U.S. trade deficit rises to 42.3 billion in May

21:36, July 13, 2010      

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The U.S. trade deficit in May increased by 4.8 percent to 42.3 billion dollars, the highest level in 18 months, the Commerce Department reported Tuesday.

The May deficit was the largest imbalance since November 2008, and higher than economists had been expecting.

In May, exports rose by 2.4 percent to 152.3 billion dollars, while imports increased by 2.9 percent to 194.5 billion dollars.

Economists say that the increase in both exports and imports reflects that the U.S. economy was rebounding from the most serious recession since the Great Depression in 1930s.

Trade experts expect that trade deficit to rise this year but hope that expanding exports will continue to boost the recovery of the American manufacturing sector.

Source: Xinhua

(Editor:王寒露)

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